• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Seagate Q2 beats Street estimates, issues third quarter guidance

by January 21, 2025
written by January 21, 2025

Investing.com — Seagate Technology PLC (NASDAQ:STX) on Tuesday reported a better than expected quarterly profit and revenue helped by demand for its data storage solutions. Shares of Seagate were about 1% higher at $102 in aftermarket trading.

The company reported second-quarter adjusted earnings per share of $2.03, exceeding analysts’ expectations of $1.87. Net income was $336 million. 

Revenue for the reported quarter came in at $2.33 billion, slightly above the consensus estimate of $2.32 billion.

Seagate provided revenue guidance for the third quarter of $2.10 billion, plus or minus $150 million, and projected non-GAAP diluted earnings per share of $1.70, plus or minus $0.20.

The company is betting on its heat-assisted magnetic recording (HAMR) technology to drive demand for higher-capacity storage solutions as cloud providers and enterprises expand their data infrastructure.

“We began ramping HAMR-based Mozaic products to our lead cloud customer in the December quarter and are already sampling in capacities of up to 36 terabytes,” said CEO Dave Mosley.

“Looking ahead, we believe Seagate is in a great position to deliver profitable growth in fiscal 2025.”

 

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Airlines stock rises on United’s strong earnings
next post
Cryptocurrency financial firm to plead guilty after novel FBI probe

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Trump implies government could cut contracts and subsidies to Musk’s companies

      June 7, 2025
    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 5, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (505)
    • Stock (6,426)

    Latest News

    • Trump implies government could cut contracts and subsidies to Musk’s companies
    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

    Popular News

    • What does the LDP election loss mean for Japan stocks? Analysts weigh in
    • Australia’s Star Entertainment posts smaller quarterly loss

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy